Common Contracts
1 similar Technology Escrow Agreement contracts
ContractTechnology Escrow Agreement • August 27th, 2013
Services provided by National Software Escrow, Inc. protect the interests of both Technology Vendors and their clients who license their products. Licensees rely on vendors for technical support and maintenance. This dependency, especially if it involves software related to mission-critical business operations, exposes them to certain risks. If, for instance, a technology vendor went out of business or stopped supporting the license software for other reasons, the licensee would likely suffer considerable losses in revenue and productivity. A technology escrow agreement gives licensees the ability, under specific and controlled circumstances, to gain access to the source code needed to maintain the technology.
